GoDaddy profit beats on HEG deal, hosting business strength

(Reuters) - GoDaddy Inc reported a better-than-expected quarterly profit and revenue on Tuesday, as its Host Europe Group (HEG) acquisition helped growth across its businesses, especially its web-hosting services.

FILE PHOTO: The logo for internet company GoDaddy inc is shown on a computer screen in this illustration photo in Encinitas, California May 3, 2016. REUTERS/Mike Blake/File Photo

Shares of the company which provides a variety of services such as a marketplace to buy domain names, website building tools, hosting as well as security services were up 2.5 percent in after-market trading.

GoDaddy, which is focusing on the more profitable business of hosting websites for small businesses and consumers, acquired HEG in December to help broaden its customer base in Europe.

“We will keep looking at acquisitions...we will buy back our stock in cash and will be inquisitive if we think there’s something within our strategy,” GoDaddy Chief Executive Blake Irving told Reuters on Tuesday.

The company has been involved in multiple deals over the past year. In addition to buying HEG, the company also bought website security firm Sucuri in March and sold HEG unit PlusServer in July.